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Rivet Software, a Denver firm offering compliance solutions for financial reporting and crucial SEC filings, will be acquired by Equity Administrations Solutions, Inc., based in Palmdale, California. The terms of the deal remain undisclosed.
[ibimage==29973==Medium==none==self==ibimage_align-right]“We are very excited about the benefits our customers will receive from this union," said Madelaine Rohan, Rivet Software CEO, in a statement. "Our clients will not only continue to receive excellence in technology, services and support from the same industry leading team, but they will also gain from an expanded solution footprint and additional financial strength and investment."
Madelaine Rohan has led the Rivet team since the death of founder Mike Rohan, her husband, in 2013. Both Rivet and EASi were members of the Inc. 500 fastest-growing companies in America, but Rivet has since faced cutbacks.
Rivet's 300-odd clients, including Crocs and WD-40, will now join GitHub, LivingSocial, Airbnb, and about 900 other companies represented by EASi. EASi is already the largest software-as-a-service entity in the world, according to a statement from Rivet. After the acquisition, the company will have 170 employees and serve more than 1,200 customers, backed by institutional funding from K1 Capital.
“This combination represents a shift in the marketplace for financial compliance technologies,” said Michael Boose, the Equity Administrations Solutions CEO, in a statement. “The CFO organization needs solutions that provide transparency and efficiency in compliance activities and reliable, real-time controls. Together, EASi and Rivet are uniquely positioned to address these needs and deliver the best solutions in financial compliance using our combined technologies, expertise, and partner-friendly business model.”
